I have mentioned this before, but the Minneapolis Area Association of Realtors is leading the way in being able to provide both agents and the buying and selling public information about real estate sales for their specific city. What they publish each month and will be highlight below, is an excellent example of the kind of transparency that we need in this business.
On about the 10th of each month, the Minneapolis Area Association of Realtors publishes the sales data for the prior month. Right now, you can find sales data for over 200 cities in the metro by clicking here.
Overall, the Twin Cities continues its downward trend that we’ve seen the past 18 months and confirmed by the Case-Shiller Index. Through November 2008, average home prices in the metro are down 13.1% with market times up to 151 days.
(Click on the graph to enlarge)
Below I’ve linked the November 2008 reports by various cities:
Orono (Lake Minnetonka Area – including Wayzata)
I will publish a separate entry to follow on the median sales price along with a breakdown of the data behind the decline in the median sales price in the Twin Cities.